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Producer Price Index increased 0.3% in November 2022, ex Fd & Engy up 0.3%
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The Producer Price Index for final demand advanced 0.3 percent in November, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices also rose 0.3 percent in both October and September. On an unadjusted basis, the index for final demand moved up 7.4 percent for the 12 months ended in November.
In November, most of the increase in the index for final demand is attributable to a 0.4-percent advance in prices for final demand services. The index for final demand goods inched up 0.1 percent.
Prices for final demand less foods, energy, and trade services moved up 0.3 percent in November after rising 0.2 percent in October. For the 12 months ended in November, the index for final demand less foods, energy, and trade services increased 4.9 percent.
Final Demand
Final demand services: The index for final demand services advanced 0.4 percent in November after edging up 0.1 percent in October. Leading the November increase, prices for final demand services less trade, transportation, and warehousing climbed 0.4 percent. Margins for final demand trade services rose 0.7 percent. (Trade indexes measure changes in margins received by wholesalers and retailers.) In contrast, prices for final demand transportation and warehousing services declined 0.9 percent.
Product detail: About one-third of the November rise in the index for final demand services can be traced to prices for securities brokerage, dealing, investment advice, and related services, which jumped 11.3 percent. The indexes for machinery and vehicle wholesaling, loan services (partial), fuels and lubricants retailing, portfolio management, and long-distance motor carrying also moved higher. Conversely, prices for transportation of passengers (partial) fell 5.6 percent. The indexes for automobile and automobile parts retailing and for traveler accommodation services also decreased.
Final demand goods: The index for final demand goods inched up 0.1 percent in November following a 0.6-percent rise in October. A 3.3-percent increase in prices for final demand foods was a major factor in the November advance. The index for final demand goods less foods and energy moved up 0.3 percent. In contrast, prices for final demand energy decreased 3.3 percent.
Product detail: The November advance in prices for final demand goods was led by a 38.1-percent jump in the index for fresh and dry vegetables. Prices for chicken eggs; meats; canned, cooked, smoked, or prepared poultry; and tobacco products also moved higher. Conversely, the gasoline index fell 6.0 percent. Prices for diesel fuel, residential natural gas, and primary basic organic chemicals also declined.
Posted: December 9, 2022 Friday 08:30 AM